USDA Announces $858M in Loans for Rural Electric Infrastructure
U.S. Department of Agriculture announced that it is providing $858 million in loans to upgrade rural electric systems in 17 states, including AK, AZ, GA, KY, MI, MN, MS, MO, NC, ND, SC, SD, TN, TX, UT, VA, and WV. The funding includes $64 million to finance smart grid technologies that improve system operations and monitor grid security.
2019 Midwest Floods: EPA-FEMA to Support Recovery of Water Infrastructure
The U.S. Environmental Protection Agency (EPA) and the Federal Emergency Management Agency (FEMA) announced a Memorandum of Understanding (MOU) to streamline coordination between FEMA and the EPA-funded State Revolving Fund (SRF) programs. Now, the funding used to restore vital water infrastructure can be provided quicker in times of disaster.
MI Utility Issuing Bonds to Transition from Coal
Michigan's Lansing Board of Water and Light is hitting the market to finance a new natural gas plant as the utility looks to reduce its reliance on coal-fired power. The utility based in Lansing will price $325 million of bonds. About $10 million of bonds will be offered to retail buyers, followed by the institutional pricing.
Rhode Island Infrastructure Bank to Sell Drinking Water Bonds
Rhode Island Infrastructure Bank has a $42.3 million negotiated sale of fixed-rate safe drinking water bonds on tap. The sale will feature $32.2 million of safe drinking water revolving fund Series 2019A tax-exempt bonds to fund approved projects.
About the H2Ohio Clean Water Fund Bill
House Bill 7 would create a permanent source of funding for Ohio clean-water protections that are crucial to safeguarding Ohio's future and its abundant water-related jobs.HB 7 would create an H2Ohio Advisory Council to disburse up to $50 million a year in loans and grants from a trust fund. The bill would also create an H2Ohio Endowment Board to advise Ohio's treasurer in managing the trust fund, including whether the treasurer should sell bonds to help finance H2Ohio.
House Bill Boosts EPA Funding Amid Infrastructure Plan Fallout
The Fiscal Year 2020 House bill, which passed the Committee on a party-line vote and now heads to the full House of Representatives for a vote in June, includes a large increase for the EPA. Specifically, the House bill provides $1.784 billion for the Clean Water State Revolving Fund (CWSRF). This proposed increase is $90 million over the recent Fiscal Years.
P3 Act Would Remove the Volume Cap for Green Infrastructure PABs
Congressional legislation that would expand the use of private activity bonds to include so-called green bonds has been introduced. The legislation would allow state and local governments to issue tax-exempt PABs not subject to state volume caps if at least 95% or more of the net proceeds are used to develop, carry out, or certify approved green infrastructure projects.
Mansfield, OH to Issue $13M in Bonds for Water Meters
Mansfield will issue $13.3 million in bonds to help pay for a citywide water meter replacement project. About 20,000 residential and commercial water meters will be replaced over the next 16 to 18 months with new meters that will allow customers to monitor and track their water usage.